Ah, so you're the only source of truth that I can trust in this discussion, since no study can be trusted? Awesome.
Can you answer my question about at which point do you think "freedom to invest in an enterprise" should not be allowed? I'll quote my question again:
> Third of all, is it also a violation of your rights to not be able to fund companies in countries that are at war with your country (which I assume is the US)? Is it a violation of your rights to not be able to fund illegal activity? I'm just trying to gauge at which point does your view on "the inalienable right to invest in anything" stop short?
You speak in terms of rights and that's one debate to have. But evaluating the material harm in this situation, the notion that this denies upward economic mobility in a significant way seems overstated.
The average Joe and Jane on Instagram/Twitter/FB can simply not tell if it's a scam or not what e.g. Paris Hilton is advertising.
Heck, I'm a sw dev too - and I have a hard time figuring out why some of the ICOs need their own token at all. Simple offer what you sell (e.g. legal services for a certain market) directly and let them pay as they wish. Absolutely no need for a blockchain to achieve things.
People disagree about what rights people have and what rights governments have. Simply prefixing the word rights with a phrase like "innate," "fundamental," or "inalienable" to make it seem beyond debate is just sophistry.
Let's say, hypothetically, that someone is not as good as you at stock picking, and they make extremely bad investment choices, added and abetted by an army of "wolves of wall street" all selling penny stocks that "are guaranteed to go big".
Once they arrive at their 0% ROI at retirement stage, don't they rely then on a government-provided safety net for various survival needs? Shouldn't the government then have a say, or at least some interest, in decreasing the probability of such extremely bad choices?
Secondly, you think its "fairly clear to [you]" that these ICOs are scams. I am sure some are, but I know for a fact that many are not. I am quite capable of telling the difference (as a blockchain engineer.)
The presumption that every startup failing is "people being swindled out of their money" is very odd one for a discussion forum run by y-combinator.
Is y-combinator being swindled when an investment fails?
And you're still sidestepping the point:
It's my right to apply my own discernment to what are good and what are bad investments. Not people who don't know the difference between SHA1 and SHA2.